5 months ago
BTC's emergence to record highs earlier this week is expected to let miners to widen their November profitability into December, according to a study by concern slope Jefferies connected Wednesday.
Bitcoin mining economics improved successful November arsenic the mean terms of bitcoin was 31% higher portion the mean web hashrate roseate by astir 4%, the study said.
The hashrate, representing the full computing powerfulness dedicated to a network, is simply a proxy for contention successful the manufacture and mining difficulty.
"Average regular gross per exahash was $55,649, which represented a 20.7% month-on-month increase," analysts Jonathan Petersen and Jan Aygul wrote.
U.S.-listed miners mined little bitcoin successful November than the erstwhile month, the slope said. Still, they mined much connected a "network basis," accounting for 24.7% of the full network.
The slope noted that uptime improved, which could beryllium partially owed to colder temperatures arsenic wintertime approaches.
MARA Holdings (MARA) mined the astir bitcoin, with 907 successful November, and CleanSpark (CLSK) was second, with 622, the study noted.
MARA's installed hashrate remained the largest successful the assemblage astatine 46.1 exahashes per 2nd (EH/s), followed by CleanSpark astatine 33.7 EH/s, the study added.
Read more: Bitcoin Mining Economics Continued to Improve successful December, JPMorgan Says
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